Sec. 373. ILLEGAL MONEY TRANSMITTING BUSINESSES

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A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

## SEC. 373 ILLEGAL MONEY TRANSMITTING BUSINESSES ###

(a)Scienter Requirement for Section 1960 Violation Section 1960 of title 18, United States Code, is amended to read as follows: > > ## “§ 1960 Prohibition of unlicensed money transmitting businesses > > > ### “(a) > > Whoever knowingly conducts, controls, manages, supervises, directs, or owns all or part of an unlicensed money transmitting business, shall be fined in accordance with this title or imprisoned not more than 5 years, or both. > > > ### “(b) > > As used in this section— > > > #### “(1) > > the term ‘**unlicensed money transmitting business**’ means a money transmitting business which affects interstate or foreign commerce in any manner or degree and— > > > ##### “(A) > > is operated without an appropriate money transmitting license in a State where such operation is punishable as a misdemeanor or a felony under State law, whether or not the defendant knew that the operation was required to be licensed or that the operation was so punishable; > > > ##### “(B) > > fails to comply with the money transmitting business registration requirements under section 5330 of title 31, United States Code, or regulations prescribed under such section; or > > > ##### “(C) > > otherwise involves the transportation or transmission of funds that are known to the defendant to have been derived from a criminal offense or are intended to be used to be used to promote or support unlawful activity; > > > #### “(2) > > the term ‘**money transmitting**’ includes transferring funds on behalf of the public by any and all means including but not limited to transfers within this country or to locations abroad by wire, check, draft, facsimile, or courier; and > > > #### “(3) > > the term ‘**State**’ means any State of the United States, the District of Columbia, the Northern Mariana Islands, and any commonwealth, territory, or possession of the United States.” > . ###

(b)Seizure of Illegally Transmitted Funds Section 981(a)(1)(A) of title 18, United States Code, is amended by striking “or 1957” and inserting “, 1957 or 1960”. ###

(c)Clerical Amendment The table of sections for chapter 95 of title 18, United States Code, is amended in the item relating to section 1960 by striking “illegal” and inserting “unlicensed”.